SHA:605162 Cash Flow Statement

Financials in millions CNY. Fiscal year is January - December.

Millions CNY. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	119.81	123.13	146.54	148.62	115.93	113.69
Depreciation & Amortization	105.45	105.45	96.44	71.52	73.34	49.76
Other Amortization	2.01	2.01	1.94	1.75	0.77	0.53
Loss (Gain) on Sale of Assets	-0	-0	1.18	-0.04	-	0.06
Loss (Gain) on Sale of Investments	-3.06	-3.06	-1.43	-0.98	-0.81	-0.51
Asset Writedown	0.01	0.01	-0.03	0.03	-	-
Change in Accounts Receivable	28.2	28.2	30.56	-64.49	7.37	-95.14
Change in Inventory	45.48	45.48	-27.17	27.54	-69.9	-8.49
Change in Accounts Payable	48.24	48.24	13.93	37.51	41.29	45.59
Other Operating Activities	-87.3	26.49	18.36	7.61	3.64	6.49
Operating Cash Flow	245.1	362.22	286.19	230.62	165.11	114.87
Operating Cash Flow Growth	-36.35%	26.57%	24.09%	39.68%	43.73%	-45.91%
Capital Expenditures	-166.23	-257.12	-275.94	-116.73	-133.08	-261.12
Sale of Property, Plant & Equipment	0.01	0	0.94	0.06	-	0.02
Investment in Securities	-220	-20	-40	-60	50	-50
Other Investing Activities	1.82	3.09	1.22	0.92	0.91	0.42
Investing Cash Flow	-384.41	-274.02	-313.78	-175.75	-82.17	-310.69
Long-Term Debt Issued	-	22	40	424.59	117	114
Total Debt Issued	20	22	40	424.59	117	114
Long-Term Debt Repaid	-	-42	-18	-162	-103.54	-292.24
Total Debt Repaid	-40	-42	-18	-162	-103.54	-292.24
Net Debt Issued (Repaid)	-20	-20	22	262.59	13.46	-178.24
Issuance of Common Stock	-	-	-	-	-	432.22
Common Dividends Paid	-76.52	-74.85	-74.09	-62.29	-144.13	-7.57
Other Financing Activities	-52.73	-52.72	-	-	4.9	-
Financing Cash Flow	-149.25	-147.57	-52.09	200.3	-125.77	246.41
Net Cash Flow	-288.56	-59.38	-79.68	255.17	-42.83	50.59
Free Cash Flow	78.87	105.1	10.25	113.89	32.03	-146.25
Free Cash Flow Growth	19.69%	925.32%	-91.00%	255.53%	-	-
Free Cash Flow Margin	11.65%	14.85%	1.18%	11.92%	3.32%	-18.97%
Free Cash Flow Per Share	0.20	0.27	0.03	0.28	0.08	-0.41
Cash Interest Paid	0.03	0.03	0.05	0.04	0.07	-
Cash Income Tax Paid	69.14	73.42	74.34	25.23	23.75	30.55
Levered Free Cash Flow	27.19	-47.36	-52.46	54.76	-24.43	-191.17
Unlevered Free Cash Flow	43.82	-30.84	-40.33	65.06	-22.04	-187.43
Change in Working Capital	109.73	109.73	24.89	-1.99	-27.84	-56.9

Source: S&P Global Market Intelligence. Utility template. Financial Sources.